Possible Armed Conflict Over Arctic Oil
Posted on Apr 05, 2008 - 01:28 PM
By: Adam Beazley
Apparently we are screwing up the earth with global warming enough so that once inaccessible areas of the Arctic will now be accessible to be exploited for oil. Scientist are predicting that global warming will leave the Arctic region almost entirely ice-free for many months at a time. Big oil companies are taking this claim very seriously, and not because of the negative environmental impacts, but because of the vast oil deposits that geologist believe are beneath the Arctic Ocean floor. With this new discovery, made possible by global warming, it now makes perfect sense why so many anti-global warming think tanks are funded by the likes of Exxon Mobile. More global warming = more oil from currently inaccessible places.
Anyway, according to the Canada.com website, a U.S. based oil exploration company Arctic Oil & Gas Corp. has laid claims to the Arctic Ocean’s undersea oil. This alleged claim came as a bit of a surprise to the Canadian government as well as Russia considering that the Arctic’s petroleum deposits are considered the “common heritage of mankind.” The US oil company claims that this region requires a private company to act as the lead manager in the extraction of this undersea oil. Arctic Oil & Gas Corp’s claims have been dismissed by the Canadian government as having “no force in law, and experts believe that this bold move may cause some disruption in the exploitation of these vast deposits.
In a recent report by the European Union’s top foreign policy officials, it was pointed out that there could be some international struggle over this Arctic region. Also, Borgerson, from the Council on Foreign Relations, wrote that “The United States should not underestimate Canadian passions on this issue,” and “Unless Washington leads the way toward a multilateral diplomatic solution, the Arctic could descend into armed conflict.”
The question is, will this 400 billion barrel oil deposit be able to stop peak oil? This is very doubtful considering that every day that goes by, the demand for oil increases and the supply simply cannot keep up. In my opinion, we should not look at this discovery as a solution to our current energy problems and instead, continue to research better and more efficient ways to power our planet.
via canada.com
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Show/Hide Comments (6)
By Praney Mittal on 04/07/2008
Good writeup, There is a mention of the gas production not keeping up with the supply. Apparently, that is not the case. OPEC can produce as much as it wants but they want to get the highest price. So, they closely control the supply.
By Adam Beazley on 04/07/2008
My comment was forward thinking, as they are currently keeping up with the demand, but we are definitely in Peak Oil.
By Roger Strong on 04/08/2008
This is a fake story.
Read closely - the company has no claim to Canada’s oil whatsoever, other than “well, someone should own it, so we’ll just ignore established law and say it’s us.”
Really. That’s it. You or I could make the same claim to the oil, and it would be just as valid. To “file a claim with the UN” - pick a UN email address at random and hit Send.
No doubt their stock went up because of the claim though. Which is probably what this is about.
By Adam Beazley on 04/08/2008
I wouldn’t necessarily say that it is “fake” considering that the European Foreign Policy and the Council Of Foreign Affairs are writing articles about this. The claim, is just that… A claim and it means nothing, but the fact that there is oil there and countries tend to fight over oil, does give it a ring of truth. Also, you said it is Canada’s oil, if you read, it is beyond the territory of Canada and Russia, so technically its free game.
By Brewery lofts on 04/18/2008
To my knowledge its a true story. Oil companies burn this world if they know they will profit from it. Heck they are burning it.
By Offshore Company Formation on 05/31/2008
Offshore drilling and armed conflict over oil. Like we have not had enough war for oil already
